Keeping Land in Capital Theory: Ricardo, Faustmann, Wicksell, and George

by Mason Gaffney

Scholarly article, 2008

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Gaffney, Mason. “Keeping Land in Capital Theory: Ricardo, Faustmann, Wicksell, and George.” The American Journal of Economics and Sociology, vol. 67, no. 1, 2008, pp. 119–41,


Library's review

Abstract supplied by Wiley Publishing: Most economists today live in a two-factor world: There is just labor and capital. Land, so central to classical political economy, has been swallowed into capital and “disappeared.” This paper surveys some of the better historical treatments of land and
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capital, their interrelations, and how they support modern Georgists and Greens who want land to reappear.

This paper was originally written for the annual meeting of the History of Economics Society (HES), Grinnell College, June 25, 2006. The writer thanks Robert Dimand for generous references to the literature; Mary M. Cleveland for editorial advice; and Marianne Johnson for insightful suggestions about integrating the materials.
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[ ]: American Journal of Economics and Sociology

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